Quest Partners LLC Has $151,000 Stock Position in Sweetgreen, Inc. (NYSE:SG)

Quest Partners LLC grew its holdings in Sweetgreen, Inc. (NYSE:SG) by 68.4% during the third quarter, Holdings Channel.com reports. The firm owned 4,256 shares of the company’s stock after acquiring an additional 1,728 shares during the quarter. Quest Partners LLC’s holdings in Sweetgreen were worth $151,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Oliver Luxxe Assets LLC acquired a new stake in Sweetgreen in the 3rd quarter valued at $1,973,000. Davidson Kempner Capital Management LP increased its position in shares of Sweetgreen by 40.1% in the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock valued at $17,330,000 after acquiring an additional 164,600 shares during the last quarter. Zweig DiMenna Associates LLC bought a new stake in Sweetgreen during the third quarter worth about $3,329,000. Stephens Investment Management Group LLC boosted its position in Sweetgreen by 139.9% during the third quarter. Stephens Investment Management Group LLC now owns 939,335 shares of the company’s stock valued at $33,299,000 after purchasing an additional 547,816 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Sweetgreen by 13.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,258,484 shares of the company’s stock valued at $44,613,000 after purchasing an additional 148,684 shares in the last quarter. Institutional investors own 95.75% of the company’s stock.

Insiders Place Their Bets

In other Sweetgreen news, CEO Jonathan Neman sold 7,400 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.81, for a total transaction of $213,194.00. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $55,609,868.68. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathaniel Ru sold 9,250 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.74, for a total value of $265,845.00. Following the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at approximately $56,104,187.46. The trade was a 0.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,892 shares of company stock worth $7,499,763 in the last 90 days. Company insiders own 21.52% of the company’s stock.

Sweetgreen Trading Down 1.9 %

NYSE:SG opened at $42.43 on Friday. The stock has a 50 day simple moving average of $37.49 and a 200 day simple moving average of $32.80. The stock has a market cap of $4.91 billion, a P/E ratio of -54.40 and a beta of 2.32. Sweetgreen, Inc. has a 1-year low of $9.31 and a 1-year high of $45.12.

Analysts Set New Price Targets

Several research firms have recently commented on SG. The Goldman Sachs Group reissued a “neutral” rating and issued a $40.00 price objective on shares of Sweetgreen in a report on Friday, November 8th. UBS Group lifted their price objective on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Bank of America upped their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Oppenheimer lifted their price target on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.80.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.